DekaBank Deutsche Girozentrale Decreases Holdings in General Motors (NYSE:GM)

DekaBank Deutsche Girozentrale lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 477,533 shares of the auto manufacturer’s stock after selling 4,561 shares during the period. DekaBank Deutsche Girozentrale’s holdings in General Motors were worth $21,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. LifeSteps Financial Inc. purchased a new stake in shares of General Motors during the first quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of General Motors in the second quarter worth about $28,000. Fortitude Family Office LLC boosted its position in General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. Montag A & Associates Inc. acquired a new stake in General Motors in the 1st quarter valued at about $30,000. Finally, YHB Investment Advisors Inc. purchased a new position in General Motors in the 1st quarter worth approximately $32,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America reiterated a “buy” rating and set a $75.00 price objective on shares of General Motors in a research report on Wednesday, June 12th. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Royal Bank of Canada decreased their target price on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Wedbush restated an “outperform” rating and set a $55.00 price target on shares of General Motors in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus price target of $55.27.

General Motors Price Performance

General Motors stock opened at $46.30 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The firm has a market cap of $52.83 billion, a PE ratio of 5.66, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. The company’s 50 day moving average is $46.19 and its two-hundred day moving average is $45.00.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 earnings per share. On average, research analysts expect that General Motors will post 9.95 EPS for the current fiscal year.

General Motors announced that its board has authorized a share repurchase program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. General Motors’s payout ratio is 5.87%.

Insider Activity at General Motors

In other news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction on Friday, July 26th. The stock was bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.